 Trade takes the form of barter when people directly exchange goods or services they have for goods or services they want.  The circular-flow diagra
{"Image DocumentName": "Transactions: The Circular-Flow Diagram", "Image ImageDescription": "Trade takes the form of barter when people directly exchange goods or services they have for goods or services they want. The circular-flow diagram is a model that represents the transactions in an economy by flows around a circle. Households buy goods and services from firms. Firms buy factors of production from households. Inner Flow = goods and services. Outer Flow = money.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}